Government of Maharashtra, on 8th March 2017 established Maharashtra Real Estate Regulatory Authority (MahaRERA) for the promotion and regulation of real estate sector in Maharashtra. With its headquarters in Mumbai, MahaRERA comes under Real Estate (Regulation and Development) Act 2016 which came into effect from May 1, 2017. Maharashtra took the initiative to implement RERA as soon as it got notified, being one of the first states to implement it.
Maharashtra holds the highest number of registered projects which are more than 16000 (approx.). Under the MahaRERA Act, the state has close to 14000 registered agents. MahaRERA is also taking the initiative in undertaking registrations in the territories of Daman & Diu and Dadar & Nagar Haveli.
Key Objectives of MahaRERA
- To protect the customers’ interest in the real estate sector.
- To establish settling method for quick dispute settlement.
- Sale of building, plot, apartment in the real estate sector to be transparent and efficient.
- To form Appellate Tribunal to hear appeals from the directions, decisions or orders of RERA.
Key Components of RERA
- Real Estate Regulatory Authority and Appellate Tribunal
- Real Estate Projects Registration
- Real Estate Agents Registration
- Financial Discipline
- Citizen Centricity
- Filing of complaints
Benefits of RERA Registration
- Funds prevention: RERA prevents insolvency by creating separate Escrow account for borrowers related to real estate transactions.
- Authenticity: RERA certification assures authentication to the promoters and brokers as it will attract more potential buyers in future.
- Complaints: RERA registered promoters as well as brokers are also empowered to complaint the authority regarding any related matters.
- Flexibility: RERA makes it flexible and convenient for the promoters to choose the date of delivery of the project according to their own consent.
- Professionalism: RERA is for strengthening the real estate industry and it also helps in creating a sense of professionalism. The regulatory act will make it an option for people to join the real estate industry.
Facilities provided by MahaRERA Act
- Real Estate Projects’ Registration
- Quarterly update provision for each project
- Extension of Real Estate Projects
- Filing of complaints
To Real Estate Agents:
- Registration of Real Estate Agents
- Renewal of registration of Real Estate Agents
- Filings of complaints
- Filing of Complaints
- Online Access to details on Registered Projects
MahaRERA Registration Process
Step 1: Visit MahaRERA @ https://maharera.mahaonline.gov.in/
Step 2: Click on the main menu tab ‘Online Application, Login page opens up.
Step 3: Below Login button, Click on ‘New Registration’ as a new user.
Step 4: ‘Create new account’ page opens, kindly select the user type out of three.
Step 5: Select respective state or UT from the drop down.
Step 6: Fill in the remaining info like username, password (twice), mobile number, and registered email address.
Step 7: Type in the ‘Captcha’ and click on ‘Create User’.
Step 8: Soon a verification link will be shared with you on your registered email address.
Step 9: Click on that link sent on your registered email address for verification and activation.
Step 10: Post activation, Login with your activated username and password.
Step 11: Fill in the required details asked from the website and finally upload all the necessary documents.
- Name, address, mobile number and photograph of the promoter (in case of individuals)
- Name, address, mobile number and photograph of the promoter (people in management, in case of entities)
- PAN card copy of promoter
MahaRERA Head Office Address:
Maharashtra Real Estate Regulatory Authority
3rd Floor, A-Wing, Slum Rehabilitation Authority,
Administrative Building, Anant Kanekar Marg,
Bandra (East), Mumbai 400051
Email addresses for your reference:
MahaRERA Conciliation Forum: email@example.com
For Maharashtra Real Estate Appellate Tribunal: firstname.lastname@example.org
To Register or Login: https://maharerait.mahaonline.gov.in/
The post RERA Maharashtra – Maharashtra Real Estate Regulatory Authority (MahaRERA) appeared first on Compare & Apply Loans & Credit Cards in India- no deposit bonus forex.